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Solution:
(c) The change in P × Q due to a one unit change in output is the correct definition of marginal revenue. Marginal revenue (MR) is the additional revenue earned from selling one more unit of a product.
It can be calculated by dividing the change in total revenue by the change in output (or quantity) or by finding the derivative of the total revenue function with respect to the quantity sold.
Mathematically, MR = ΔTR / ΔQ or MR = dTR / dQ.
Correct option is (c)